it's a friday evening here in japan. thanks for joining us on "newsline." i'm james tengan in tokyo. ban ki-moon will visit china next week and attend a military parade marking the 70th anniversary of what it calls its victory over japan. the n. officially announced ban's trip is scheduled for september 2nd through 6th. it includes watching the parade in beijing on the 3rd. ban is visiting at the invitation of president xi jinping. he plans to meet to discuss next
month's u.n. summit and issues related to global warming. the chinese government says invitations to attend the parade have been accepted by the presidents of rshia and south korea and 28 other state leaders. not attending are u.s. president barack obam ajapan's prime minister shinzo abe and the leaders of major european nations. in may, ban attended a ceremony in russia marking the 70th anniversary of the soviet union's victory over nazi germany. kim jong-un has called this week's accord a landmark occasion that could pave the way for defusing tension. the state-run korean news agency reported that kim made the remarks at a meeting of the ruehling party's central military commission. central officials agreed to end military standoff that sparked an exchange of artillery fire. kim said his team played a role
in the negotiations defusing the crisis. the accord should be respected to bring it to fruition. officials in seoul welcomed kim's stance. they said they hope pyongyang will abide by the accord. japanese cabinet ministers have set a new cap to build a new stadium for the 2020 tokyo olympics. they've scrapped the initial plan. they'll now cut costs by 40%. >> translator: we've limited the function of the new stadium to what is needed for the competitions. we considered what's best for the athletes and what would suit a main stadium for the 2020 olympics and paralympics. >> cabinet ministers endorsed the new cap that limits construction costs to $1.3 billion. the new stadium will have about 68,000 seats for the games. they can be increased to 80,000
if necessary for a world cup soccer match. the stadium's roof will now only cover the upper seats and a sub track for warm-ups will be built within walking distance from the stadium. it's set for completion by the end of april 2020 but the international olympic committee asked that it be finished by january of that year so the government will seek proposals from designers and construction firms to try to meet that date. officials from balkan nations are cawling on the eu to deal with the max influx of migrants from the middle east and africa. thousand are crossing from greece into serbia and macedonia. they're trying to reach more affluent european countries and the balkan region is struggling to cope. the leaders of germany, austria and former yugoslav republics have been attending a summit in vienna looking for a common answer to the crisis. alexander vocic said his cannot
is doing all it can. the eu mft inform the balkan nations of what else they should do. the eu foreign policy chief said europe is responsible for the people seeking protection. >> they need europe to protect them, and we need to live up to our standards of human rights and respect of international obligations to protect them. >> the eu plans to rank the security situations in the countries where the migrants are coming from. it wants to disting wush people fleeing conflict versus those leaving for economic reasons. the regional bloc is considering accepting people from syria but sending back people from nations where security is relatively stable. analysts say it remains to be seen whether the eu can take effective measures. many of them are heading for prosperous nations including
germany but the wave of migrants is being felt hard in greece first, especially in its tourism industry. more from nhk world's masam masama hori. >> reporter: it's in urgency. each year the island hosts more than 1 million tourists. many come for summer holidays, but this season, they are finding the island is quite different. a large number of refugees and migrants have arrived on river boats. more continue to come in. this boat brought in about 30 people. many are refugees fleeing the war in syria. they pass through neighboring turkey and head for a gateway to europe. >> we lost our family. we lost our friends. we escape from the war to europe
are. >> reporter: the greek government has commissioned a cruise ship to transport refugees from coast to a port near athens. because of the financial squeeze, the government is experiencing, it can only afford one ship. that is not enough to keep up with the constant influx. about 7,000 refugees and migrants are on the island. that is more than 20% of the island's usual population. some have put up tents on the beaches. >> i've been here two months ago. there were not as many. >> reporter: the reputation of kos, an island flooded with immigrants is having an impact
on its key industry, tourism. the management of this restaurant says even though it is peak season, the number of customers is down 60%. many hotels have also been hit hard. this one received more than 500 cancellations this summer leading to a loss of more than $20,000. >> also people that they wish to come and then change plans and go somewhere else. greece again but maybe places that don't have the problems. they don't have this. first time in my life. >> reporter: they are showing their frustration at the government. last week the governor of the party visited the island to hear people's complaints. members of the hotel industry
voiced their distress. >> translator: our industry as a whole has incurred a loss of millions of euros. one ship is not enough to transport the refugees. we need more ships. >> translator: we have navy ships, but cannot use them because we need them in case of national emergencies. >> reporter: the government did not present any complete measures at the meeting. the tourism industry has the potential to prop up the country's shaking economy, but it is facing problems of its own. masami hori, nhk world, kos, greece. >> thanks for that report. asian stock markets stanlized toward the end of a volatile week. gene otani is here to tell us what's happening and will give us a round-up of the business headlines.
>> james, thanks. strong u.s. gdp figures and a rebound in oil prices boosted sentiment across the asia pacific region. tokyo stocks rose for a third straight day. the nikkei recovered the 19,000 mark for the first time in a week. we go to our business reporter yang at the business exchange. >> sentiments in markets across asia improved on the last day of a volatile week with u.s. gdp numbers. and we saw the nikkei average surge for a third day. here are the closing levels as we head into the weekend. the nikkei ended up more than 3%. the topix gained nearly 3.3%. the nikkei ended back above the 19,000 mark, though it hasn't been enough to recoup the steep losses from the meltdown earlier this week.
is it was down 1.5% on the week. let's look at what moved the market on friday. energy firms were lifted by the jump in crude oil prices overnight. inpex rose almost 5.6% and idemitsu jumped nearly 6%. both companies got hammered earlier in the week when oil was at a 6 1/2-year low. trading house mitsubishi corporation surged 6.2% after announcing it's requiring a 20% stake in food giant olam international. it's hoping to boost its global market share. share prices in tokyo ended higher after this roller coaster week. not a bad way to end the week. giang ngyuen reporting from the tokyo stock exchange. shanghai stocks were up two days in a row snapping a five-session plunge. investors there are banking on further government support for the market.
the shanghai composite closed 4.8% higher at 3232. analysts say sentiment improved after a government official said public pension funds would invest more in stocks. over the week the index lost 7.8%. the hang seng fell sharply toward the end of trading closing more than 1% lower. investors sold banking sthirs lock in profits. the index was don 3.6% on the week. other markets in the region ended higher. sydney and seoul extended gains ending the week in the positive. and the philippines added 1.1%. investors have spent the past couple of weeks worrying about china. they saw the government's devaluation of the yuan send share prices lower. now they wonder whether the chinese economic slowdon is worse than leaders of letting on. takashi imura has this look at the province taking the hardest hit.
>> reporter: a huge monument is rising up in this new town. but construction of many buildings has stalled. the effect of china's economic slowdown can be felt throughout the country but the province of downing has taken the biggest hit. investment in fix ed real estat. the center of government implemented economic stimulus measures 1.3 yuan or $600 billion following the 2008 global financial crisis. officials wanted to encourage investment in infrastructure and housing. but the large number of housing units, built mostly in rural regions with those funds remain unsolved. that's discouraging people from putting money into new
development projects. >> the condominium units aren't on the market yet. there's usually no one around here. >> reporter: they are faced with financial difficulties of its own. the local economy grew at the relatively low 2.6% in the first half of the year. officials are finding it difficult to raise capital. in july, they tried issuing 550 million yuan worth of bonds to help pay for an expressway. that's about $85 million. but underwriters from financial institutions were cautious. the result was about 30%. investors were apparently concerned that the sluggish local economy would leave the government unable to guarantee the principle and set interest rates. it's also impacting the
manufacturing sector. china's crude output was down 1.8% from the same period last year. and oversupply of capital equipment and products has driven down still prices by 18% in the past year. the city of anshin is a major steel producer. the effects are being felt throughout the local economy. >> i'm a bartender, and business is certainly not good. >> translator: heavy industry is a key sector in china's northeast. steel is the pillar of the economy. when it goes don there is definitely an impact. >> reporter: the central government's investment strategy has not been sufficient to spur
economic expansion. officials are now trying to make consumption a key growth engine. but consumers are not doing their part. the number of new cars sold in china last month fell more than 7% from a year before. sales grew around 0.4 between january and july, far below the industry's annual target of 7%. >> translator: the slowing economy is affecting the income of people who love luxury or imported vehicles. >> reporter: the government has presented new policies designed to prop up the economy. chinese authorities are using every tool they have to halt the economic slowdown. will their effort prove success snfl notice one is more eager to know the answer to that question than the people of liaoning province.
takeshi nomura, nhk world. here's a look at some of the other business stories we're following. japanese officials have released a pile of economic data for july giving a snapshot of the country's economy. the consumer price index was flat year on year after staying in positive territory for 25 consecutive months. household spending down 0.2% from a year ago. people spent less on cars and housing. meanwhile, the employment situation improved with the jobless rate edging down to 3.3%. a government survey shows japan's small and midsized companies are raising their workers' pay. 67.7% of firms polled say they hiked wages in the current business year. that's up more than three points from the previous period. preventing employees to leave for other jobs was the most common reason for the raises. japan's major automakers say
their domestic production in july marked a 13th straight month of decline. they rolled out nearly 790,000 vehicles, down 6.4% from the same month a year earlier. they contribute the slide to sluggish sales of many vehicles following a tax increase on that car category. the world's muslim population is growing fast, and so are its economies. that trend is driving demand for halau food and other food made according to islamic law. companies in europe and japan are already making inroads in this market. now south korea is looking for a slice of the action. nhk world's kim janju has more. >> reporter: the forecasts are hard for any business to ignore. the global halal market is expected to reach $8 trillion by 2030. at south korea's first ever
halal trade fair, companies were pitching kimchi, noodles and more. definitely no pork or alcohol and all prepared according to islamic law. a slumping economy -- business owners have begun testing the muslim market for new opportunities. but there is much to learn. expo partic pants got a briefing on halal requirements. they differ from country to country. >> translator: winning halal certification is not easy but muslims could make up nearly 30% of the global population so it would be great if we could tap this market. >> reporter: more and more muslim women are showing an interest in south korean cosmetic brands. this moisturizing lotion is
certified halal. it contains no alcohol or animal derived collagen. this company has spent the past ten years developing halal cosmetics. it uses a dna analyzer to screen it. the device can detect even the tiniest trace of pork or other taboo ingredients. they focused on natural materials. instead of chemicals, they used a coconut extract. the company launched its halal lineup in 2013 and is now exporting cosmetics to kazakhstan and turkey. >> translator: we've developed halal certified cosmetics that are really good for the skin. we want them to be used not only by muslims but by people all over the world.
>> reporter: not everyone is focusing on exports. some businesses are now catering to the needs of muslims inside the country. this restaurant was the first in south korea to receive halal certification. it serves traditional korean dishes instead of the typical kabob or curry. the menu promises no food additives, another precaution against banned ingredients. >> i couldn't find any korean halal restaurants. once they opened up this restaurant i was really happy i could try this. it's good. >> reporter: the restaurant owner recently opened a guest house for muslims. many muslims pray five times a day. tape on the ceiling shows the direction of mecca.
a prayer room is available for guests as well. >> translator: i'm aiming to find out what muslims want and then provide services that satisfy their needs. >> reporter: south korean companies face a stiff learning curve in the halal market. in a stagnant economy, the rewards look promising for those who take up the challenge. kim chan-chu, nhk world, seoul. i'm going to hand it back to you, james. >> gene otani from our business desk. japan's ruling liberal democratic party has scheduled its presidential election for september 20th. shinzo abe is almost certain to be re-elected. abe's term as the party president expires at the ind of
september. the party's election committee set the official starting date of the cam pawn for september 8th. if no other candidate steps forward at that time, abe will win by default. abe has expressed his readiness to stay on in the post. all ldp factions support his re-election. japan's government has dismissed an article by chinese state-run media. the xinhua news agency demanded the emperor apologize for its country's past aggression. >> translator: the article is grossly disrespectful to the emperor and goes against the position previously expressed by the chinese government. >> reporter: the japanese government launched a strong protest with the chinese side through diplomatic channels. the news agency published the article on tuesday. it says the aggression japan initiated was the result of combined efforts by the emperor, the government, military and industrial conglomerates that nurtured and supported
militarism. it says they cannot escape from their responsibilities. the article claims the current emperor's father was the chief agent responsible for japan's aggression. it says emperor shoa, hirohito, never expressed an apology to those victimized in the war and their citizens. it says the emperor akihito should melt ice with an apology and obtain trust through repentance. yoshida suga said the government does not think it is necessary for the emperor to apologize. now for weather, the forecast calls for mostly overcast skies for us here in tokyo with the current temperature reading of 23 degrees celsius or 73 degrees fahrenheit. we're joined with the latest on tropical storm ericka. >> it's affecting the caribbean island and caused deadly mud slides in dominica island, about
320 millimeters of rain fell in 24 hours. at least four people were kills. flooding is still happening. the center of ericka is to the south of puerto rico packing wnds of 75 kilometers per hour and is expected to move to the north of hus paniolea and then affect the bahamas into the weekend as a tropical storm. it may become a hurricane as it gets close to the florida peninsula into next week. many years will be affected by this storm. the caribbean islands could get up to 300 millimeters of rainfall. these areas are dealing with lack of pripitation. this rain is beneficial but too much rain can cause flooding and landslides. watch out for heavy rainfall and strong winds. across the central pacific, honolulu has been battered by heavy rain. on wednesday, 50 millimeters of rain making it the heaviest rainfall for the day for this
region. and this area has had 15 times more than the monthly rainfall for august so far this month. weather is improving there, however, more wet weather is expected into next week because a hurricane is approaching. hurricane ignacio is packing wnds of 180 kilometers per hour and will likely maintain its intensity as a hurricane and get to close to the big island next week. many areas of hawaii could be impacted directly or indirectly as we go into next week. ex-typhoon is still lingering over china and russia providing more wet weather and it's dragging colder air from the north. mountains in jun prove uns were covered in snow and hail could happen. it's also causing numerous problems over north kariya. we have some pictures coming out of the country. heavy donpours caused serious flooding in north korea.
40 people were kuld ailled and than 11,000 injured. about 230 millimeters of rain fell in just 48 hours with 155 millimeters of rain falling in just three hours. the company had been suffering from droughts for a long period of time but the heavy downpours lead to flooding conditions. earlier this month about 20 were killed due to flooding in the country. more wet weather is expected in the north of the country as we go into the next couple of days. there's a significant rainmaker over the south of china. extremely heavy rain for the southern half of taiwan and the wet weathermaker will likely make its way toward japan. things will turn wet in japan. kyosho will see rain saturday with a high of 30. and the rain will spread into central portions of japan. tokyo will see gloomy skies into the next three days. the heaviest rain will likely
>> lights from around the world, after morehungary bodies are found. officials say the bodies are thought to be syrian refugees. barack obama remembers hurricane katrina and the rebels -- in a result new orleans and blames the bush administration for mishandling the situation. journalists are being blamed for blackmailing the king of morocco, they say they are being framed. and they trying to find a solution to